COSCO Pacific developing terminals in three China regions

COSCO Pacific developing terminals in three China regions COSCO Pacific, the terminal-operating arm of the China Ocean Shipping Co. Group, has signed pacts to develop terminals in three different regions of China, the company said Friday.
   The first is a tie-up with Hainan Provincial Government to invest in the development of a terminal in the Qiongbei port area at Haikou port, located at the northern part of Hainan, an island province west of Hong Kong. The terminal would have two container berths with a capacity of 450,000 TEUs.
   Second, COSCO Pacific said it would buy a 30 percent stake in the Fuzhou Port Group. The Port of Fuzhou, located in southeastern China, is the country's 11th-largest port.
   Finally, COSCO is expanding its terminal in the river port of Yangzhou, in Jiangsu province. The port, on the Yangtze and upriver from Shanghai is one of China's primary timber gateways.